Car Insurance Rates in Arkansas

The Natural State has affordable auto insurance rates but minimum liability coverage is more affordable than the full coverage in comparison to the country averages. Arkansas has 2 million licensed drivers and 19.3% of them are uninsured. It is 53% higher than the US average making it one of the states with the highest uninsured drivers. Vehicle ownership figure is much higher than most other regions and it may reflect the rural nature of the state with limited public transportation in many areas.

Arkansas Car Insurance Requirements

Collection of Pictures from Arkansas

Minimum required coverages and limits are;

  • $25,000 for bodily injury or death per person.
  • $50,000 total for bodily injury or death per accident.
  • $25,000 for property damage.
  • Uninsured/Underinsured motorist bodily injury: $25,000 per person and $50,000 per accident*
  • Uninsured motorist property damage: $25,000 with a $200 deductible*
  • Medical benefits: $5,000*
  • Lost earnings: $140 per week*
  • Accidental death benefits: $5,000 per person*
  • *These coverages can be rejected in writing.

As obtaining at least the minimum vehicle insurance coverage is mandatory in this state, it’s advisable to thoroughly explore your choices. Evaluate the possibility of securing a policy with a more suitable level of liability coverage that aligns with your budget. For newer vehicles, it’s prudent to think about including Collision and Comprehensive coverage to safeguard against potential damages. Remember, having the necessary automobile insurance coverage is essential for filing future claims. Therefore, it’s crucial to assess the primary risks you want protection from and acquire the corresponding coverage to be well-prepared.

Affordable Arkansas Vehicle Insurance Rates

Average minimum liability car insurance costs in Arkansas is $443, which is $179 less than the US average. You can also get affordable full coverage car insurance, as the average cost is $1,907 and $107 below the national average. The ideal situation is when these two figures are in close proximity. This encourages people to consider purchasing full coverage instead of opting for a much cheaper liability-only policy. Full coverage policies are more than four times the cost of minimum liability coverage in AR, but they provide extensive coverage including Liability, Collision, and Comprehensive covers.

Competitive Auto Insurance Carriers in Arkansas

The companies listed below offer the most competitive rates in the Natural State, providing large savings compared to others. Horace Mann offers discounts for teachers, while USAA caters to soldiers. Keep in mind that the competitiveness of these companies may vary depending on factors such as your driving records, credit history, age, gender, and vehicle. Thus, it is advisable to obtain multiple car insurance quotes to ensure you find the most suitable option.

  1. State Farm
  2. Geico
  3. Farm Bureau
  4. Dairyland
  5. The Hanover

The rates for auto insurance can significantly differ even between closely located zip codes. For instance, in Little Rock, the average driver pays about 11% more than the statewide average. However, considering it is the capital and the largest city, this increase is relatively minor. While premiums in most cities align closely with the state average here, urban residents tend to pay more than rural drivers in general.

Notable Arkansas Automobile Insurance and Driving Facts

  1. In this state, car insurance providers must provide a defensive driver discount to individuals aged 55 and over who have successfully finished an Office of Driver Services-approved course. The discount is valid for 3 years and you can repeat the course to renew the discount.
  2. Motor vehicle accident related death ratios are higher than the national average in this state.
  3. Also, Arkansas ranks in the top ten in weather-related fatal crashes, with rain being a primary contributor due to its higher-than-average rainfall compared to most states. Therefore, drivers should exercise extra caution during rainy days.
  4. According to Forbes, having a speeding ticket on your driving record increases car insurance rates by 22, a DUI by 50% and at-fault accident by 40% on average in Arkansas.
  5. Not providing proof of insurance can result in serious consequences in AR. The first offense includes fines of $50 to $250, subsequent offenses bring higher fines and potential jail time. Vehicle registration may be suspended, requiring a reinstatement fee.

To secure the best possible price, it is crucial to carefully evaluate your options. While it’s beneficial to review the automobile insurance rates offered by the aforementioned affordable carriers, it is only the initial step in your search. It’s recommended to gather several other quotes and compare them in terms of both price and coverage. This comparison will help you determine whether you are paying a fair amount or significantly more than necessary.